Out of Every 10 Diamonds Sold in the World Pass

question 32

Multiple Choice

out of every 10 diamonds sold in the world pass through India,making diamonds that country's largest export at $6.6 billion a year.One of the reasons for its success is the nation's 2,500 trading firms,banks,airlines,customers' offices,and courier services that make sure the diamonds are safely delivered.According to Michael Porter's theory about national competitive advantage,India's success in the diamond industry is due in part to its

• A) company strategy, structure, and rivalry.
• B) absence of competition.
• C) related and supporting industries.
• D) factor conditions.
• E) demand conditions.

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Definitions:

Consumer Involvement

The degree of interest and engagement a consumer has with a product or brand, which can affect their purchase decisions.

Product Knowledge

Understanding of a product's features, benefits, and uses, crucial for effective sales and marketing.

Involvement

The personal, social, and economic significance of the purchase to the consumer.

Consumer Behavior

The study of how individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires.